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China export boom to Global South continues - Asia Times

China export boom to Global South continues - Asia Times
China reported higher-than-expected export growth in May of 11.2% in RMB terms and 7.6% in terms of US dollars year-on-year, indicating that the country

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China's export growth exceeds expectations, particularly in the Global South, with a 11.2% increase in RMB terms and 7.6% in US dollars year-on-year. However, exports to developed markets remain below previous levels. Demand for Chinese products such as telecom infrastructure, low-cost EVs, solar panels, and steel is increasing in the Global South. Despite challenges, China's exports to the United States have been affected by tariffs, leading to supply chain rerouting through third countries. The country also sees a modest recovery in consumer demand, with the International Monetary Fund upgrading its 2024 growth forecast for China to 5%. This suggests that China is on track to meet its 5% growth target for the year.

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